11/08/2010 Author: Elana Margulies

Sector targets technology space with new launch 

Sector Asset Management, the Oslo-based $1.5bn investment manager, has launched a technology-focused hedge fund.

The Sector Technology fund debuted earlier this summer with $3.6m and has a capacity of 500m. With 30-45 positions, it is a global long/short strategy that invests in telecom technology, software, hardware and telecom operators, among other areas.

David de Picciotto, sales director, said Sector decided to roll out a technology offering on the premise the sector has high stock-specific risk and high return dispersion.

“This means that you don’t have to take big net-long or net-short exposure to create performance,” he said. “It’s an industry with rapid and constant change in the sector and especially in technology; this creates a lot of winners and losers.”

Marianne Bøe is the fund’s portfolio manager. Prior to joining Sector Asset Management, she managed several mutual funds, including mandates covering global equity, Nordic equity and one global technology mandate at Terra Forvaltning, which merged with WarrenWicklund Kapitalforvaltning (WWK) in October 2008.  

The fund has a €250,000 investment minimum, 2/20 fees and no lock-up. Goldman Sachs and UBS are the prime brokers.